[SMM Analysis] "The First ESS Integration Stock - HyberStrong" Listing Timeline and Information Summary

SMM has learned that Beijing Haibosi Chuang Technology Co., Ltd. disclosed its IPO prospectus on January 8, 2025, officially initiating the issuance process. Online and offline subscriptions are expected to begin on January 16. Below is a summary of the timeline for Haibosi Chuang's listing-related milestones:

In 2022, Haibosi Chuang had already started preparing for its listing. The key milestones are as follows:

• Project Initiation:
  1. In September 2022, the pre-initiation application report was submitted.
  2. In October 2022, the initiation application report was submitted, and the project was approved on October 28.
• Internal Review:
  1. From April 3 to May 9, 2023, the Quality Control Department conducted a quality control review.
  2. The internal review meeting was approved on May 16, 2023.
• Application Materials:  
  1. On June 20, 2023, the application was accepted.
  2. On July 9, 2023, it entered the inquiry stage.
  3. On October 17, 2024, the application was approved at the meeting.
  4. On November 29, 2024, the registration application was submitted.
• CSRC Approval:
  1. On December 19, 2024, the CSRC approved the registration.
• Issuance Arrangement:
  1. On January 8, 2025, the IPO prospectus was disclosed.
  2. On January 13, 2025, preliminary pricing inquiry (T-3) will be conducted from 9:30 to 15:00.
  3. On January 15, 2025, the issuance announcement will be published (T-1).
  4. On January 16, 2025, online and offline subscriptions will take place (T day) from 9:30 to 15:00 (offline) and from 9:30 to 11:30, 13:00 to 15:00 (online).
  5. On January  20, 2025, online and offline payments will be made (T+2) by 16:00.

Basic Information on Haibosi Chuang's Stock Issuance:

1. Stock Code: 688411
2. Online Subscription Code: 787411
3. Issuance Method: A combination of targeted placement to investors participating in strategic placements, offline pricing placement to qualified investors, and online pricing issuance to public investors holding non-restricted A-shares and non-restricted depositary receipts in the Shanghai market.
4. Pricing Method: The issuance price will be determined through preliminary offline pricing inquiry, and no cumulative bidding inquiry will be conducted offline.
5. Total Shares Before Issuance: 133,297,611 shares
6. Proposed Issuance Volume: 44,432,537 shares
7. Total Shares After Issuance: 177,730,148 shares
8. Proposed Issuance Volume as a Percentage of Total Shares After Issuance: 25%
9. Initial Online Issuance Volume: 11,332,500 shares
10. Initial Offline Issuance Volume: 26,443,411 shares
11. Initial Strategic Placement Volume: 6,656,626 shares
12. Initial Strategic Placement as a Percentage of Proposed Issuance Volume: 14.98%

Haibosi Chuang possesses multiple core technologies in the field of electrochemical ESS, including battery digital modeling technology, battery management system technology, thermal management system technology, battery system integration technology, digital intelligent closed-loop verification technology, power coordination control system technology, energy management and ESS power station monitoring system technology, and battery full life cycle intelligent operation and maintenance system technology. These technologies cover the entire application process of batteries, including digital modeling, management, and system integration, achieving product safety, efficiency, cost-effectiveness, long lifespan, and intelligence.

Additionally, Haibosi Chuang is expected to allocate the funds raised primarily to the following areas:

1. ESS Production, R&D, and Industrialisation: Including the construction of a 2GWh ESS production project, with an expected investment of 299 million yuan; ESS R&D and industrialisation project, with an expected investment of 164 million yuan.
2. Digital Intelligent Laboratory Construction: An expected investment of 122 million yuan.
3. Marketing and After-Sales Service Network Construction: An expected investment of 46.9148 million yuan.
4. Supplementing Working Capital: An expected investment of 150 million yuan.

SMM New Energy Industry Research Department

Cong Wang 021-51666838

Xiaodan Yu 021-20707870

Rui Ma 021-51595780

Ying Xu 021-51666707

Disheng Feng 021-51666714

Yujun Liu 021-20707895

Yanlin Lü 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Yushuo Liang 021-20707892

Jie Wang 021-51595902

Yang Xu 021-51666760

Boling Chen 021-51666836

Lianting Yang 021-51595835